Developments in Foreign Exchange and OTC Derivatives Markets

Global activity in foreign exchange and over-the-counter (OTC) derivatives markets continued to increase over the three years to April 2013. The increase in foreign exchange turnover was mostly driven by growth in the United Kingdom. Turnover in Australia declined slightly, even though global turnover of the Australian dollar increased markedly. Globally, the notional amount of OTC derivatives outstanding increased modestly over the three years to the end of June 2013, while the increase was more pronounced in the Australian market.